Asked by
Antonio Lipari
on Nov 18, 2024
Verified
Title to merchandise shipped FOB shipping point passes to the buyer upon delivery of the merchandise to the buyer's place of business.
FOB Shipping Point
A term used in shipping agreements indicating that the buyer assumes responsibility for the goods and the cost of transport once the goods leave the seller's premises.
Title To Merchandise
The legal right or ownership of goods and products, which is transferred from the seller to the buyer when the conditions of a sale are met.
- Acquire knowledge on the duties and descriptions of diverse freight terms, including FOB destination and FOB shipping point.
Verified Answer
PS
Learning Objectives
- Acquire knowledge on the duties and descriptions of diverse freight terms, including FOB destination and FOB shipping point.